The demand for a good is price inelastic if
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Correct Answer: Option A
Explanation:
Inelastic demand occurs when a change in demand is less than proportionate change in price. Inelastic demand is less than 1 i.e e < 1
Inelastic demand occurs when a change in demand is less than proportionate change in price. Inelastic demand is less than 1 i.e e < 1